In November 2009, Reliance Industries issued 1:1 bonus shares to its shareholders. By the end of 2008, Reliance Retail had close to 600 stores across 57 cities in India. In 2006, Reliance entered the organised retail market in India with the launch of its retail store format under the brand name of ' Reliance Fresh'. In 20, the company reorganised its business by demerging its investments in power generation and distribution, financial services and telecommunication services into four separate entities. IPCL's Nagothane and Dahej manufacturing complexes came under RIL when IPCL was merged with RIL in 2008. (IPCL), India's second largest petrochemicals company, from the government of India, RIL took over IPCL's Vadodara Plants and renamed it as Vadodara Manufacturing Division (VMD). In 2002–03, RIL purchased a majority stake in Indian Petrochemicals Corporation Ltd. This was the first-ever discovery by an Indian private sector company. The in-place volume of natural gas was more than 7 trillion cubic feet, equivalent to about 120 crore (1.2 billion) barrels of crude oil. In 2002, Reliance announced India's biggest gas discovery (at the Krishna Godavari basin) in nearly three decades and one of the largest gas discoveries in the world during 2002. In 2001–02, Reliance Petroleum was merged with Reliance Industries. became India's two largest companies in terms of all major financial parameters. The years 1998–2000 saw the construction of the integrated petrochemical complex at Jamnagar in Gujarat, the largest refinery in the world. In 1998/99, RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance Gas. In 1995/96, the company entered the telecom industry through a joint venture with NYNEX, USA, and promoted Reliance Telecom Private Limited in India. Moody's rated "Baa3, Investment grade, constrained by the sovereign ceiling". S&P rated Reliance "BB+, stable outlook, constrained by the sovereign ceiling". In 1996, it became the first private sector company in India to be rated by international credit rating agencies. In 1993, Reliance turned to the overseas capital markets for funds through a global depository issue of Reliance Petroleum. The Hazira petrochemical plant was commissioned in 1991–92. During 1985 to 1992, the company expanded its installed capacity for producing polyester yarn by over 145,000 tonnes per annum. In 1985, the name of the company was changed from Reliance Textiles Industries Ltd. In 1980, the company expanded its polyester yarn business by setting up a Polyester Filament Yarn Plant in Patalganga, Raigad, Maharashtra with financial and technical collaboration with E. In 1979, a textiles company Sidhpur Mills was amalgamated with the company. The issue was over-subscribed by seven times. The company held its Initial public offering (IPO) in 1977. In 1975, the company expanded its business into textiles, with "Vimal" becoming its major brand in later years. On, it became Reliance Textiles Industries Limited. It established a synthetic fabrics mill in the same year at Naroda in Gujarat. In 1966, Reliance Textiles Industries Pvt. In 1965, the partnership ended and Dhirubhai continued the polyester business of the firm. Reliance Commercial Corporation was set up in 1958 by Dhirubhai Ambani as a small venture firm trading commodities, especially spices and polyester yarn. History 1958–1980 Stamp released in 2002 to honor company founder Dhirubhai Ambani The chairman of Reliance Industries, Mukesh Ambani, has been described as a plutocrat. The company has attracted controversy for reports of political corruption, cronyism, fraud, financial manipulation, and exploitation of its customers, Indian citizens, and natural resources. The company has relatively little free cash flow and high corporate debt. It is India's largest private tax payer and largest exporter, accounting for 7% of India's total merchandise exports. Reliance is the largest public company in India by market capitalisation and revenue, and the 100th largest company worldwide. Its businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance Industries Limited is an Indian multinational conglomerate, headquartered in Mumbai.
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